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  • Writer's pictureAnna Clare Harper

House prices make modest rebound in May as confidence improves, says Nationwide

Anna Clare Harpers Quote

Thanks to Evening Standard,, Bridging & Commercial, The Mirror, Mortgage Solutions, The Independent and Property Reporter for sharing Anna's thoughts on the latest housing market data.

Transactions rose 10% in the year to April 2024, 5% vs the previous month. 

This reflects improved confidence in the housing market.

The question everybody is asking is what impact will the election - and its results - have on the property market. Generally, any form of uncertainty causes buyers and sellers who don’t absolutely need to transact, to pause.

Elections make investors and aspiring homeowners nervous. 

However, the truth is that the results of the election are unlikely to make a material difference to house prices.

This is for two reasons. Firstly, the fundamentals won’t change: the need continues to outstrip supply for housing as a result of population growth.

Secondly, whilst there may be policies that affect a small proportion of homes, both parties offer similar policies focused on short term confidence, buoyed by house prices.

For these reasons, fears of dramatic change following the election are overblown; the biggest issue is nerves and inaction in the run-up - so homeowners considering a sale, aspiring homeowners and investors alike will be pleased that the run-up to the election is not too long!

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